Personal loans sector records accelerated growth of 11.9 pc: RBI – ThePrint

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New Delhi [India], July 30 (ANI): Personal loans saw accelerated growth of 11.9% in June 2021 from 10.4% last year, according to data released Friday by the Reserve Bank of India (RBI).

“Personal loans saw an accelerated growth of 11.9% in June 2021 from 10.4% a year ago, mainly due to the accelerated growth of loans against gold jewelry and auto loans,” said the RBI.

Apex Bank also said that year-on-year growth in non-food credit was 5.9% in June 2021, up from 6% in June 2020.

“Credit to agriculture and related activities continued to perform well, registering accelerated growth of 11.4% in June 2021 compared to 2.4% in June 2020,” RBI data showed.

The RBI further said that industry credit growth contracted 0.3 percent in June 2021, down from 2.2 percent in June 2020. Service sector credit growth slowed to 2. 9% in June 2021 against 10.7% in June 2020 (ANI)

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